Racing Australia Annual Report 2020

RACING AUSTRALIA ANNUAL REPORT 2020 | 35 Your directors present their report, together with the financial statements on the consolidated entity (referred to hereafter as the ‘consolidated entity’) consisting of Racing Australia Limited (referred to hereafter as the ‘company’ or ‘parent entity’) and the entities it controlled at the end of or during the year ended 30 June 2020. Directors The names of each person who has been a director during the year and to the date of this report are: Position Directors Appointed Resigned RV Nominated Director & Chairman Greg Nichols Brian Kruger – Alternate Director RNSW Nominated Director & Deputy Chairman Russell Balding AO Peter V’landys AM – Alternate Director RQ Nominated Director Steven Wilson AM Brendan Parnell – Alternate Director RWWA Nominated Director Jefferey Ovens Richard Burt – Alternate Director TRSA Nominated Director Frances Nelson QC James Watters – Alternate Director 2 April 2020 Nicholas Redin – Alternate Director 2 April 2020 TRNT/CRC/TR Nominated Director Ian Mackay Stephen Heppenstall – Alternate Director Company Secretary Matthew Orr Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal Activities The consolidated entities principal activity in the course of the financial year was the provision of racing materials, services and products to the state based Principal Racing Authorities and race clubs of Australia, the supply of field and form products to Racing Australia’s commercial and retail customers, officially recording the ownership details and naming of Thoroughbred racehorses for racing in Australia and for export, the maintenance, accuracy, quality and integrity of the Australian Stud Book, and the administration of the Australian Rules of racing and the rules of the Australian Stud Book. The Thoroughbred Trainers Service Centre Limited provides low cost industry-based horse syndication services under the conditions of an Australian Financial Services Licence (AFSL). Short Term and Long Term Objectives Racing Australia’s Vision • To be Australia’s favourite sport. • To conduct the world’s best races. • To be the world’s leading Thoroughbred Racing Industry. Core objective • Leverage existing assets further and identify new commercial opportunities. Core functions • National Rules • National Integrity • National and International Advocacy • National Coordination • National Research and Analysis • Identify and Maximise Best Practice • National Efficiency/Back Office • Recognise and reward excellence in the industry • Communicate our role • Seek to identify emerging issues including Animal Welfare and provide leadership via a common policy approach including minimum standards. Key Performance Measures The company measures its own performance through the use of both quantitative and qualitative benchmarks. The benchmarks are used by the Directors to assess the financial sustainability of the company and whether the company’s short-term and long-term objectives are being achieved. This includes the publication of service standard performance reports monthly on the Racing Australia web site. Dividends There were no dividends paid, recommended or declared during the current or previous year. DIRECTORS REPORT